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JGB futures have consolidated Thursday's.......>

JGBS: JGB futures have consolidated Thursday's overnight session gains and
operate just below a key resistance area, with the risk off flows stemming from
the PBOC's yuan fix supporting the space.
- Participants look to the liquidity enhancement auction for 1-5 Year JGBs due
later today. The most recent liquidity enhancement auction covering this sector
saw dealers focus on JB#125 & JB#127
- There was little reaction to Japan's CPI release, with 10-Year break-evens
sticking to a narrow range.
- Bulls have so far failed to take out the 151.02 resistance in futures, which
is needed to add support to the case for a test of the 151.13-19 resistance
region. Daily studies correcting from modestly overbought levels weighed in past
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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